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    1419 Washington Rd Washington, IL 61571
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    1419 Washington Rd Washington, IL 61571

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    • Retail space
    • 4,240 SF
    • 0.40 lot acres
    For Lease
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    Washington, IL Office Space For Lease
    Contact for pricing
    960 SF

    Washington, IL Office Space

    960 sq ft office space in high-visibility Washington location.

    1419 WASHINGTON Road, Washington, IL 61571
    View Listing
    Property ID
    US28-4807725
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail space

    Property Details for 1419 Washington Rd

    Year built
    1973
    Lot size
    0.40 lot acres
    Property size
    4,240 SF
    Property type
    Retail space
    APN
    02-02-22-204-041
    APU
    20222204041

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Washington
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.4311
    Latitude
    40.7036
    CBSA code
    37900
    CBSA name
    PEORIA, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $5,876
    $17,400
    $48,070
    $65,470
    -
    $52,200
    $144,210
    $196,410

    Comparable in this City

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    • Value Estimation
      $700,000
      10,987 SF

      301 Cummings Ln

      RETAIL STORES (PERSONAL SERVICES) • 10,987 SF
      301 Cummings Ln, Washington, IL 61571-9648
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    • Value Estimation by Request
      9,071 SF

      501 Walnut St, Unit 505

      RETAIL STORES (PERSONAL SERVICES) • 9,071 SF
      501 Walnut St, Washington, IL 61571-2743
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    • Value Estimation by Request
      2,420 SF

      2465 Washington Rd

      RETAIL STORES (PERSONAL SERVICES) • 2,420 SF
      2465 Washington Rd, Washington, IL 61571-1775
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    • Value Estimation by Request
      6,204 SF

      2168 Washington Rd

      RETAIL STORES (PERSONAL SERVICES) • 6,204 SF
      2168 Washington Rd, Washington, IL 61571-1954
      View Details
    • Value Estimation
      $600,000
      4,761 SF

      2309 Washington Rd, Unit 2313

      RETAIL STORES (PERSONAL SERVICES) • 4,761 SF
      2309 Washington Rd, Washington, IL 61571-1860
      View Details

    Similar Nearby for Sale

    • Contact for pricing
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      Retail/Warehouse Building in Washington Corridor

      Two-story retail/warehouse with additional A-Frame warehouse and ample parking.
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    • New
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      Washington, IL Commercial Building

      One-story building on a corner lot in Washington, IL.
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      Versatile Commercial Building in Washington, IL

      7,500 sq ft commercial building on 2 acres.
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    • New
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      0.12 Acres

      Two-Story Commercial Building in Washington

      Two-story commercial building with renovation potential in Washington, Illinois.
      120 Walnut St, Washington, IL 61571
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    • $225,000

      Commercial Land For Sale

      Commercial land suitable for strip mall, restaurant, or businesses.
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    Similar Nearby for Lease

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      12,600 SF

      Retail Suites in Cherry Tree Center

      Retail suites available in busy Washington, IL shopping center.
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      View Details
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      4,060 SF

      Retail Space Near Walmart

      Retail space available in multi-tenant strip center.
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      Prime Acreage for Lease/Sale

      Outlot and acreage available for retail, medical, or residential use.
      Mcclugage Rd, Washington, IL 61571
      View Details
    • Contact for pricing
      17,424 SF

      Washington, IL Office Space

      960 sq ft office space in high-visibility Washington location.
      1419 Washington Rd, Washington, IL 61571
      View Details
    View Listing
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    Washington, IL 61571
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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